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Orezone Gold Reports Robust Q4-2024 Gold Production of 36,502 Ounces, With the Full Year Exceeding the Mid-Point of 2024 Guidance
VANCOUVER, British Columbia, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to anno
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce its fourth quarter and full year 2024 gold production results from its Bomboré Gold Mine: Q4 gold production of 36,502 ounces. Annual gold production of 118,746 ounces exceeding the mid-point of guidance of 110,000 to 125,000 ounces. Record quarterly ore processed of 1.65 million tonnes (“Mt”) or 18,163 tonnes per day, which is 27% above nameplate design and a 14% increase from Q4-2023. Importantly, gold recoveries remain robust at the significantly higher throughput rates, with Q4 gold recovery at 89.1%. Zero lost-time injuries in 2024, continuing Orezone’s strong safety record. Gold sales in Q4 of 34,833 ounces at an average realized price of US$2,632/oz, resulting in revenue of US$91.7 million. For the full year, gold sales totaled 118,697 ounces at an average realized price of US$2,384/oz, resulting in revenue of US$282.9 million. Patrick Downey, President & CEO stated, “The fourth quarter marked another significant milestone for the Bomboré Gold Mine, with record quarterly mill throughput of 1.65Mt of ore processed. While Q4 was expected to be the highest production quarter due to mine sequencing, the higher throughput rates solidified a strong finish to the year. Gold production in Q4 totaled 36,502 ounces, a 37% increase quarter-over-quarter, with annual production of 118,746 ounces exceeding the mid-point of guidance. This accomplishment is a testament to the hard work and dedication of our operating team, with annual production guidance now achieved for the second consecutive year since the oxide plant was commissioned in 2022. The achievements at Bomboré in 2024 have now positioned Orezone for a transformational 2025. The Stage I hard rock plant expansion is well-advanced, with completion and commissioning set for Q4 of this year. This next stage of growth at Bomboré, which will increase gold production by an additional 50%, is fully financed, and remains on time and on budget. The Stage I hard rock plant incorporates the same conservative design parameters as the current oxide plant, and as such, we see the potential for significantly greater capacity than its 2.5Mt per annum design. We look forward to providing regular hard rock construction mileston...